Wal-Mart dialing back growth

This CNN coverage from Wal-Mart's annual meeting on Friday reports on how the world largest retailer intends to reinvigorate its stock. The gist is that Wal-Mart wants to see greater growth in same store sales and is scaling back opening of new supercenters.

TK: Wal-Mart said it will slow down supercenter growth from near 270 last year to about 200 this year and 170 supercenters per year the next three years. The company is also increasing its stock buyback program. So far, Wall Street likes this move, though some shareholders at the meeting were deriding W-M's stock performance versus Target in the last few years.